Retirement Planning: Disability Income Insurance
Without an income, many people can’t build the necessary assets for a retirement plan. Many will also find it even more difficult to save for retirement in the event of a long-term disability.
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What is it?
Disability income insurance replaces a portion of your income in the event you become too sick or hurt to work. RetireGuard® disability income insurance helps protect your ability to save for retirement.
How is it used?
For employees, individual disability income insurance is used to supplement the often inadequate coverage already provided by an employer group long term disability benefits. RetireGuard is used to help protect the contributions that would have been made to an employee's qualified retirement plan, if they became disabled.
What are the benefits?
An individual disability income insurance policy replaces a portion of an employee's income in the event of a disability. RetireGuard disability income insurance replaces the contributions that would have been made to an employee's qualified retirement plan, such as a 401k, had the insured remained healthy.
What are the different types of disability income insurance products that can help meet the retirement planning needs of your organization?
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Individual, Fully Underwritten
Supplements employer-provided group LTD benefits.
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RetireGuard
Can help protect an employee’s ability to save for retirement.
Prefer to speak to someone about disability income insurance products?
RetireGuard [Policy Form XL-IS-92 with EDI-10 and XL-IS-92(NC) with EDI-10 in North Carolina] is issued by Massachusetts Mutual Life Insurance Company, Springfield MA 01111-0001 and has exclusions and limitations. RetireGuard can be issued to participants of defined contribution plans on a stand alone basis or as a rider on a disability income contract (Radius®, MaxElectsm or FlexElectsm) for an additional cost. RetireGuard is not a retirement or pension plan or a substitute for such a program. Benefits are paid directly in to a trust, not into an employer sponsored retirement plan. Trust assets may be tax deferred depending on the investment option(s) you choose. Trust services are provided by The MassMutual Trust Company, FSB.
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Insurance products issued by Massachusetts Mutual Life Insurance Company (MassMutual), 1295 State Street, Springfield, MA 01111-0001 and C.M. Life Insurance Company and MML Bay State Life Insurance Company, 100 Bright Meadow Boulevard, Enfield, CT 06082. Principal Underwriters: MML Distributors, LLC (MMLD) and MML Investors Services, Inc., (MMLISI) Members FINRA (www.finra.org) and SiPC (www.sipc.org). MMLD and MMLISI are subsidiaries of Massachusetts Mutual Life Insurance Company, 1295 State Street, Springfield, MA 01111-0001.
CRN201009-107544
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